A great article on the shadow monetary system

[HJ]

FT alphaville has one of the best article talking about the current monetary system (what the the author call "collateral based") that I have read.  I highly recommend reading the linked article written by Credit Suisse.  One can glimpse from it, explanations for the persistently low long term interest rates (a residual monetary phenomena, rather than an investment bubble), and give one a theoretical basis to try to make guesses as to what type of collateral will bubble up in the future. 

 

 

http://ftalphaville.ft.com/blog/2012/04/05/941741/when-safe-assets-return/